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Members of the Shariah Advisory Council Bank Negara Malaysia



Malaysia has dedicated Shariah Advisory Councils for the Islamic banking and takaful sectors, as well as for the Islamic Capital Market (ICM).

 The Shariah Advisory Council of Bank Negara Malaysia (BNM) is responsible to advise on matters in relation to Islamic banking and takaful businesses or any other Islamic finance area that is supervised and regulated by BNM.

 The Shariah Advisory Council of the Securities Commission Malaysia (SC) is responsible to advise on matters pertaining to the ICM.

 Consisting of prominent Shariah scholars, jurists and market practitioners, members of the two SAC are qualified individuals who can present Shariah opinions and have vast experience in banking, finance, economics, law and application of Shariah, particularly in the areas of Islamic economics and finance.

 In executing its duties and responsibilities, both SAC examine and endorse the validity of application of Shariah in Islamic financial products which are submitted by Islamic financial institutions.

 The SAC would also issue Shariah resolutions and decisions relating to their relevant jurisdictions from time to time. Both SAC have published their resolution, which have been translated into various languages and is being used as a reference point by industry and academia around the world.

 The SAC, in their respective capacity as advisory bodies, can make pronouncements; respond to inquiries and proposals from the industry as well as encourage innovation through progressive guideline formulation.

 The progressive approach of the SAC has allowed the banking and takaful and ICM sectors to flourish by cultivating an environment for product innovation and flexibility while ensuring compliance with Shariah principles.

As the highest authority in the determination of Shariah in Islamic finance, the SAC has a pivotal role in ensuring the sanctity of Shariah rulings referred by Islamic financial institutions as well as the court and arbitrators. The SAC consists of prominent qualified individuals among Shariah scholars, jurists and market practitioners, who have vast experience in banking, finance, economics, law and application of Shariah, particularly in the areas of Islamic economics and finance.

Members of the SC's Shariah Advisory Council (SAC) for 1 July 2014 – 30 June 2017.
  1. Tun Abdul Hamid Mohamad - Former Chief of Justice;
  2. Tan Sri Sheikh Ghazali Abdul Rahman - Shariah Legal Advisor, Attorney General Chamber;
  3. Dato' Seri Haji Hassan Haji Ahmad - Mufti of Penang;
  4. Dr. Mohd Daud Bakar - Chief Executive Officer of Amanie Advisors;
  5. Prof. Dr. Engku Rabiah Adawiah Engku Ali - Professor, Kulliyyah Undang-undang Ahmad Ibrahim, International Islamic University of Malaysia (IIUM);
  6. Prof. Dr. Ashraf Md. Hashim - Chief Executive Officer of ISRA Consultancy Department (I-Con), International Shariah Research Academy for Islamic Finance (ISRA);
  7. Prof. Madya Dr. Mohamad Akram Laldin - Executive Director of International Shariah Research Academy for Islamic Finance;
  8. Prof. Madya Dr. Rusni Hassan - Associate Professor, Kulliyyah Undang-undang Ahmad Ibrahim, International Islamic University of Malaysia (IIUM);
  9. Prof. Madya Dr. Asmadi Mohamed Naim - Dean of Islamic Business School, Universiti Utara Malaysia (UUM);
  10. Dr. Shamsiah Mohamad - Senior Researcher of International Shariah Research Academy for Islamic Finance (ISRA); and
  11. En. Burhanuddin Lukman - Lecturer, Kulliyyah Undang-undang Ahmad Ibrahim, International Islamic University of Malaysia (IIUM).

The Shariah Advisory Council of Bank Negara Malaysia (2013/2016)

1. Dr. Mohd Daud Bakar (Chairman)
2. Prof. Madya Dr. Mohamad Akram Laldin (Deputy Chairman)
3. Yang Amat Arif Tun Abdul Hamid Mohamad
4. Tan Sri Sheikh Ghazali Abdul Rahman
5. Y.B. Sahibus Samahah Dato’ Haji Hassan Ahmad
6. Prof. Dr. Engku Rabiah Adawiah Engku Ali
7. Prof. Dr. Ashraf bin Md. Hashim
8. Prof. Madya Dr. Rusni binti Hassan
9. Prof Madya Dr. Asmadi Mohamed Naim
10. Dr. Shamsiah Mohamad
11. En. Burhanuddin Lukman